Condo Auction Face Off To Take Place In Maryland

by Deidre Woollard (RSS feed)
Feb 19th 2010 at 11:02PM

We've seen a lot of condo auctions recently but a condo war of dueling condo auctions is a new one. Two condo auctions will be held later this month for units in an Ocean City, Maryland complex. There will be two separate auctions because of a fractured real estate partnership. The Bahia I and Bahia Vista II are two buildings that are bayfront and bayview and many units have private balconies. After the partnership ended one owner, Spiro Buas, ended up with 11 units which he plans to sell at an auction on February 27. The units will be auctioned off by Marshall Auctions. Some units come with boatslips. Ther will be no minimum prices on four of the condos, some which were listed as high as $800,000. Also on the same day, and at the same time, Max Spann Real Estate will auction off nine codnos in the Bahia Vista I building. Bids start as low as $95,000 for condos that were once listed as high as $730,000. It's a bit of a bizarre situation but one that should be a benefit to potential buyers looking for a deal.

Tags: bahia vista condos, BahiaVistaCondos, condo auction, CondoAuction, maryland, ocean city, OceanCity